U.S. equities drifted lower on Thursday, risking a breakdown out of a tight two-month consolidation range just one day ahead of the inauguration of President-elect Donald Trump. This seems, on the surface, a little odd given Trump’s surprise victory boosted markets in a historic run to record highs.
But sentiment has turned recently, keeping the Dow Jones Industrial Average below the 20,000 threshold, as doubts have emerged over his aggressive stance on foreign trade, risks of an increased rate hike tempo and the specter of a showdown with budget hawks in Congress as the debt ceiling approaches once more in March.
In the end, the Dow lost 0.4%, the S&P 500 gave back 0.4%, the Nasdaq Composite dropped 0.3% and the Russell 2000 ended the day 0.9% lower. Treasury bonds were mostly weaker, the dollar mostly stronger, gold lost 0.9% and oil gained 0.4% but finished off its best levels after inventory data showed an unexpected build.
Top 5 Gold Stocks To Invest In Right Now: Ultralife Corporation(ULBI)
- [By Peter Graham]
A long term performance chart shows Energous Corporation and potential small cap networking or power peer Acacia Communications (NASDAQ: ACIA) having a run up late last year while small cap Ultralife Corp (NASDAQ: ULBI) is heading back up to previous highs and EnSync Inc (NYSEMKT: ESNC) has underperformed:
Top 5 Gold Stocks To Invest In Right Now: Dow Treasuries(DV)
- [By Peter Graham]
A long term performance chart of Apollo Education Group along with peersITT Educational Services, Inc (NYSE: ESI) and DeVry Education Group Inc (NYSE: DV) reflect the headwinds from the Obama administration:
Top 5 Gold Stocks To Invest In Right Now: Citrix Systems Inc.(CTXS)
- [By Chris Lange]
The stock posting the largest daily percentage gain in the S&P 500 ahead of the close Monday was Citrix Systems, Inc. (NASDAQ: CTXS) which jumped 6.8% to $84.93. The stocks 52-week range is $59.72 to $87.99. Volume was 5.19 million which is well above the daily average of around 2.09 million shares.
- [By Ben Levisohn]
Citrix Systems (CTXS)soared nearly to the top of the S&P 500 today afterreports it had hired Goldman Sachs (GS) to pursue a sale of the company.
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Citrix Systemsgained 6.8% to $84.93 today, while the S&P 500 finished little changed at 2,373.47.
Business Insider’s Matt Weinbergerhas the details:
Citrix, the $13 billion tech company best known for software like GoToMeeting, is working with Goldman Sachs to negotiate a possible sale, reports Bloomberg, citing anonymous sources.
This isn’t the first time that Citrix has shopped itself around: in late 2015, and under pressure from activist shareholder Elliott Management, Citrix was said to have unsuccessfully tried to find a buyer.
Citrix Systems market cap rose t0 $13.3 billion today from $12.4 billion on Friday. It reported net income of $536 million on sales of $3.4 billion in 2016.
- [By Ben Levisohn]
Wynn Resortsgained 4.8% to $104.30 today, while the S&P 500 finished little changed at2,373.47. At 2:45, Wynn was easily the top performing stock in the S&P 500, only to be surpassed by Citrix’s (CTXS) late day surge.
- [By Jim Robertson]
At the beginning of the month, LogMeIn announced the completion of its merger with Citrix Systems, Inc (NASDAQ: CTXS) GetGo, Inc subsidiary.
In late October, LogMeIn reported 22% third quarter revenue growth to $85.1 million and GAAP net loss was $0.7 million compared to a GAAP net income of $5.6 million. LogMeIn will report its fourth quarter and fiscal year 2016 financial results for the period ended December 31, 2016 following the close of market on February 28.
Top 5 Gold Stocks To Invest In Right Now: ChannelAdvisor Corporation(ECOM )
- [By Lisa Levin]
ChannelAdvisor Corp (NASDAQ: ECOM) shares dropped 24 percent to $10.85 following Q4 results. ChannelAdvisor reported Q4 net income of $5.8 million on revenue of $31.8 million.
Top 5 Gold Stocks To Invest In Right Now: Aon Corporation(AON)
- [By WWW.THESTREET.COM]
We’re seeing the exact same price pattern playing out in shares of $29 billion risk and insurance consultancy firm Aon plc (AON) . Aon has been a strong performer for all of 2016, up 20% since the calendar flipped to January. But don’t worry if you’ve missed the move – an ascending triangle pattern is signaling a second leg higher here. For Aon, the breakout level to watch is resistance up at $113.